Today I talk about 401k’s with my friend and resident 401k expert, Rick Unser from the podcast 401k Fridays. I get more questions about 401k plans than almost anything else. There are tons of misconceptions, rumors, and pieces of misinformation floating around both on the internet and possibly even in your break room at work. Don’t let your entire retirement be screwed up just because Harry in accounting says he “doesn’t trust 401k’s”.
Rick and I go in depth on a ton of different topics and questions relating to 401k’s. Here are just a few:
- Retirement planning: past vs. present
- The history and making of the employer-sponsored 401k plan.
- What happened to pensions?
- “I hear 401k plans are bad…should I invest in mine?”
- Is the employee match the maximum I can contribute to my 401k?
- Why do 401k plans get such a bad rap?
- Why did the creator of the 401k say that the modern 401k is a disaster?
- How can you make sure you’re not paying too much in fees?
- What is the difference between a traditional 401k and a Roth 401k?
This episode will answer your questions and give you clarity. Remember, the best way to get specific information about your employer’s 401k plan is to talk with your HR rep.
*DISCLAIMER* I want to reiterate that I am not sponsored, paid, or required to give you any of this information. There is no kick-back for me, I truly desire to help you achieve a healthy financial life.
Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.